Dove Landing Homes
Dove Landing House
Dove Landing Pool
Dove Landing Playground
Dove Landing Interior

5305 Justin Court
Virginia Beach, VA 23462
United States

Leasing
Developer

Development Type
Substantial Rehab, Multifamily

Construction Type
Garden Apartments

Development Costs
$23.8 million

Contractor
Covington Contracting
Owner
Dove Landing, LLC
Community Housing, Inc
Housing Partnership Equity Trust
Enterprise Community Development
Management Company
Total Homes
318
Property Type
Workforce
Family

Dove Landing

Dove Landing is a four-property portfolio totaling 318 garden style apartments in Virginia Beach, Virginia.

Enterprise Community Development (formerly Community Preservation and Development Corporation) purchased the portfolio in January 2016 and completed moderate renovations by the end of 2017. The renovations included updated kitchens, bathrooms, and central hallways, HVAC systems and roofs as needed, and general site and landscaping work. Additionally, Enterprise Community Development (EDC) repaired and re-opened the pool which had not been operational for several years.

The acquisition and redevelopment of Dove Landing was financed through an equity investment of $7.5 million from the Housing Partnership Equity Trust (HPET) and a $15.5 million permanent Freddie GSE loan provided by Prudential Mortgage Capital Corporation. The total development costs for the project totaled $23.8 million. 

Resident Profile
100 percent market rate

Development Profile
Type / # Units / Density
1 BR 68
2 BR 250
16.6 acres

Amenities
Community Laundry
Pool

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